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Finance term: Macaroni Defence

08 Jun

Meaning:

An approach taken by a company that does not want to be taken over. The company issues a large number of bonds with the condition they must be redeemed at a high price if the company is taken over.

It is called macaroni defence because  if a company is in danger, the  redemption price of the bonds expands like Macaroni in a pot!
 

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2 responses to “Finance term: Macaroni Defence

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